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Income Tax Appellate Tribunal, “C’’ BENCH : BANGALORE
Before: SHRI N.V VASUDEVAN, VICE PRESIDNET & SHRI B.R BASKARAN
O R D E R Per B.R Baskaran, Accountant Member
The assessee has filed this appeal challenging the asst. order passed for asst. year 2014-15 u/s 143(3) r.w.s 145C(13) of the Act.
At the time of hearing the ld counsel for the assessee submitted that the petition of the assessee seeking to withdraw the appeal. The said petition reads as under:-
IT(TP)A No.2944/Bang/2018
“Appellant : M/s Citizen Watches (India) Pvt. Ltd., (“CWIPL” or “the Appellant” or “We”) Reference: Withdrawal of Grounds of Appeal in the Appeal no. ITA 2944/BangI18 for the AY 2014- 15pursuant to entering into Advance Pricing Agreement ("APA")
We refer to the captioned appeal pending before the Honourable Income tax Appellate Tribunal (Hon'ble Tribunal') for the AY 2014-15, wherein we wish to inform the Hon'ble Tribunal that the Appellant has entered into a Unilateral APA with the Central Board of Direct Taxes under Section 92CC of the Income Tax Act, 1961. A copy of the APA agreement is enclosed as Annexure 1 of this letter.
In view of the same, the Appellant would like to withdraw the grounds of appeal filed on 290ctober 2018 for AY 2014-15.
'The Appellant requests your good self to take this submission on record and oblige.
The ld DR did not object to the petition filed by the assessee. Accordingly we allow the assessee to withdraw the appeal.
IT(TP)A No.2944/Bang/2018
In the result, the appeal filed by the assessee is dismissed as withdrawn.
Order pronounced in the open court on 4th February, 2020.